Question
Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need $150,000 in 18 years. If they are
Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need $150,000 in 18 years.
If they are able to earn 6% per annum, how much must be deposited at the beginning of each of the next 18 years to fund the education?
Options:
$4,443
$4,579
$4,853
$8,333.
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Cost Management A Strategic Emphasis
Authors: Edward Blocher, Kung Chen, Thomas Lin
1st Edition
0070059160, 978-0070059160
